NY Life Acquires 630 K Street Office Asset for $28M

New York Life Real Estate Investments (NYL), on behalf of an institutional client, has acquired an 87,140-square-foot office building in downtown Sacramento for a reported $28.1 million. Cushman & Wakefield teams from San Francisco and Sacramento handled the sale transaction.

630 K Street is a five story mixed-use building. As part of its repositioning plan, NYL will  invest in significant capital improvements to the asset that will bring it to Class A market- ready condition.

Strategically next to Downtown Commons, a leading live/work/play destination, 630 K Steet also offers future direct access to multiple public transportation options servicing the region.

NYL has retained Cushman & Wakefield for leasing and property management.

This is NYL’s second deal in downtown Sacramento for its institutional client. In early 2018, 770 L Street, a 170,267-square-foot Class A office tower located right around the corner, was also acquired.